CNTB vs DG: Correlation
How closely do Connect Biopharma Holdings Limited (CNTB) and Dollar General (DG) trade together? Their weekly returns over three years give a correlation of -0.23, which is negative.
Data as of 2026-08-27 · refreshed every trading day · weekly returns · methodology
How correlated are CNTB and DG?
Over the past 3 years, CNTB and DG moved with a correlation of -0.23, which is negative, meaning they tend to move in opposite directions. The relationship has been stable: the 1-year correlation (-0.15) sits close to the 3-year figure. Over 5 years the correlation is -0.09, and the annualized covariance of weekly returns is -890.1 %².
DG is close to the least connected end of CNTB's tracked universe, ranking #9 of 10. On 12-month performance CNTB holds a 12.6-point edge, +28.1% against +15.5%. One caveat on sizing: CNTB is 2.6 times as volatile as the other leg, so an equal-dollar split is far from equal-risk.
How is this computed?
Pearson correlation on weekly returns: ρ(A,B) = cov(rA, rB) / (σA · σB), over windows of 52, 156 and 260 weeks. Covariance is annualized (×52) and expressed in %². Full definitions on the methodology page.
CNTB vs DG: side by side
| CNTB (Connect Biopharma Holdings Limited) | DG (Dollar General) | |
|---|---|---|
| 1-year return | +28.1% | +15.5% |
| 5-year return | -89.0% | -39.3% |
| Volatility (ann.) | 99.0% | 38.5% |
| Beta vs S&P 500 | -0.06 | 0.11 |
| Max drawdown (3Y) | -75.0% | -56.6% |
| Market cap | $0.1B | $27.8B |
| P/E (trailing) | – | 17.4 |
| Dividend yield | 0.00% | 0.00% |
| Sector / category | US Listed | Consumer Staples |
Year-by-year returns
| Year | CNTB | DG |
|---|---|---|
| 2022 | -83.1% | +5.6% |
| 2023 | +35.9% | -44.1% |
| 2024 | +16.9% | -43.1% |
| 2025 | +104.3% | +79.6% |
| 2026 | -19.1% | -3.8% |
Calendar-year price returns; the current year is year-to-date as of the data date above.
Are CNTB and DG good diversifiers for each other?
Yes. With a correlation of -0.23, CNTB and DG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
FAQ
What is the correlation between CNTB and DG?
As of 2026-08-27, the correlation of weekly returns between CNTB and DG is -0.23 over 3 years, -0.15 over 1 year and -0.09 over 5 years.
Is DG a good diversifier for CNTB?
Yes. With a correlation of -0.23, CNTB and DG have moved largely independently, which makes them a genuinely diversifying pair by historical standards.
What does a correlation of -0.23 mean?
A reading of -0.23 sits on a scale from −1 (opposite moves) through 0 (unrelated) to +1 (identical moves). Correlation captures direction, not magnitude or performance.
Use this data
$ curl https://www.pairbook.io/api/v1/pairs/cntb-vs-dg.json
Embed this badge (it refreshes with the data), with attribution:
[](https://www.pairbook.io/pair/cntb-vs-dg/)
The core API is free. Terms and every endpoint in the API documentation.
Related comparisons
Hubs: CNTB correlations · DG correlations
